Shares of Abbott Laboratories (NYSE:ABT) have received an average rating of “Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $128.93.
Several analysts recently issued reports on the stock. Barclays cut their price target on shares of Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. Raymond James upped their price target on shares of Abbott Laboratories from $116.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Cowen increased their target price on shares of Abbott Laboratories from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. dropped their target price on shares of Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 2nd. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, July 23rd.
In related news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $129.05, for a total value of $2,969,182.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael D. Dale sold 17,600 shares of the stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $120.33, for a total transaction of $2,117,808.00. The disclosure for this sale can be found here. Insiders have sold 222,883 shares of company stock valued at $27,964,400 in the last 90 days. Insiders own 1.50% of the company’s stock.
ABT traded up $0.43 during trading on Tuesday, hitting $127.05. The company had a trading volume of 4,176,457 shares, compared to its average volume of 5,376,956. The company has a market cap of $225.24 billion, a PE ratio of 35.79, a P/E/G ratio of 2.45 and a beta of 0.66. The business has a 50-day moving average of $123.08 and a 200-day moving average of $119.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. Abbott Laboratories has a 1-year low of $100.34 and a 1-year high of $129.70.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.15. The firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Research analysts forecast that Abbott Laboratories will post 4.42 earnings per share for the current year.
About Abbott Laboratories
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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